Thermostatic Control Valve
WARNING: This page is about a different car, the 2019 Jaguar XE. However, it is still accessible from the selected car via links, so may be relevant.
Courtesy of JAGUAR LAND ROVER NORTH AMERICA, LLC
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The inline thermostatic control valve prevents the flow of coolant to the Automatic Transmission Fluid (ATF) cooler until the coolant is at the correct temperature.